automotive intelligent lighting Market

The global automotive intelligent lighting market is estimated to account to US$ 3.22 Bn in 2018 and is expected to grow at a CAGR of 12.4% during the forecast period 2018 - 2027, to account to US$ 8.70 Bn by 2027.

The global automotive intelligent lighting market is experiencing steady growth in the forecast period. The Rapid rise in sales of premium and luxury cars due to rising disposable incomes and increasing demands for integration of luxury coupled with strong consumer focus on car aesthetics owing to the surge in demand of automotive intelligent lighting globally. , the trend of urbanization is growing at an exponential growth rate owing to which the average disposal income of the population staying in urban cities is also increasing, allowing them to enhance their lifestyles. The number of passenger cars operating worldwide is therefore on the rise, further creating a demand for production of passenger cars to cater to the ever-increasing demands. Thus, it impact the growth of automotive intelligent lighting market in the current scenario.

A key trend that will prominently affect the automotive intelligent lighting market in the coming years is the convergence of connected cars in the forecast period. This factor is expected to boost the automotive intelligent lighting market. Developed internet infrastructure, advances in semiconductors technology, availability of high definition displays are all on a path to completely transform the automotive industry. Driver telematics, in-vehicle infotainment systems, Advanced Driver Assistance Systems (ADAS) are already being rolled out in the market and are rapidly gaining widespread popularity is driving the automotive intelligent lighting market. These factors are projected to gain traction in the coming times having a significant impact approaching the automotive intelligent lighting market.

Automotive intelligent lighting market by technology is segmented into LED matrix and Laser. LED light source used in the headlights allows drivers to have a proper and better view of the road contours, better road anticipation power and thereby good reaction time for taking a decision LED and HID sources empower the vehicle driver with sharper and better views ensuring good anticipation of the other vehicles. The use of LED lamps has further paved the way for a much more profound advancement that is intelligent automotive lighting. Integrating an electronic control to maneuver the Led lighting has created a roadmap for the emergence of intelligent automotive lighting and is anticipated to drive the market in the coming years. These factors are expected to enhance the demand of LED matrix in the automotive intelligent lighting market globally.

The overall automotive intelligent lighting market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the automotive intelligent lighting market. Also, multiple primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the automotive intelligent lighting industry.